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There are only two Buy to Let lenders who I understand are able to remortgage a Buy to Let property within 6 months of its purchase date, if you are looking to capital raise after completing a renovation or refurbishment I recommend you give me a call prior to the purchase of the property.

There are two solutions to this issue a) complete a Purchase Buy to let mortgage with the option to lend up to a further £25,000 once the refurbishment is completed or b) If you already own the property a remortgage will be required.  Expect to have to contend with the following policy in these circumstances –

‘Where the applicant(s) has been the registered owner(s) of the property for less than 6 months, the loan amount will be based upon the lower of the purchase price or current valuation.’

However, exceptions will be considered where it can be demonstrated, that since the date of purchase, significant improvement works which have enhanced the property value have been carried out.

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Austin Degge


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